USD/JPY Holds Near 159.50 as Yen Loses to Import Bill
USD/JPY traded near 159.50 on Monday in a 75-pip range, adding about 10 pips. The Dollar Index broke below its 200-day EMA, hitting its weakest level during the move.
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The pair traded near 159.50 through Monday, holding inside a 75-pip range and posting a net gain of about 10 pips. It stayed firm even as the Dollar Index broke beneath its 200-day exponential moving average and slipped to its weakest level during the move.
The update cited Japan’s import bill as a weight on the yen, helping keep the pair elevated near 159.50. The broader dollar’s slide below its 200-day EMA did not translate into sustained downside for USD/JPY on the day.
Key levels from the update:
- USD/JPY: near 159.50
- Daily range: about 75 pips
- Net change: roughly +10 pips
- Dollar Index: below 200-day EMA
Source: FXStreet Forex News